DOUBLE TAXATION – AUSTRALIA

Court says backpacker tax is discriminatory

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Original article by Tom McIlroy
The Australian Financial Review – Page: 3 : 31-Oct-19

Arnold Bloch Leibler partner Clint Harding says some backpackers could be entitled to tax refunds after a landmark court ruling on the federal government’s tax on the earnings of working holidaymakers. The Federal Court’s Justice John Logan has ruled that the backpacker tax breaches non-discrimination clause in Australia’s tax treaties with eight countries, including the UK, the US, Germany and Japan. The Australian Taxation Office may appeal the ruling.

CORPORATES
FEDERAL COURT OF AUSTRALIA, ARNOLD BLOCH LEIBLER, AUSTRALIAN TAXATION OFFICE, TAXBACK.COM

10pc tax on financial services could mean higher house costs

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Original article by Joanna Mather
The Australian Financial Review – Page: 6 : 4-Nov-15

Ernst & Young’s Brad Miller says a proposal to impose a 10 per cent tax on margin-based financial services could result in home buyers being taxed twice. The tax initiative was proposed by ex-KPMG tax partner Michael Evans, and would apply to banks’ margin of profit on financial products such as mortgages. Miller notes that house buyers could potentially pay GST on both the home itself and the interest on their mortgage loan.

CORPORATES
ERNST AND YOUNG, KPMG AUSTRALIA PTY LTD, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, BDO AUSTRALIA LIMITED